US justice department will not reopen Jay Powell criminal probe
Summarised from 2 outlets · Updated 2 Oct, 23:54 · Archive
The US justice department will not reopen a criminal investigation into former Federal Reserve chair Jerome Powell over cost overruns in the central bank's building renovation.
The US justice department is not reopening a criminal investigation into former Federal Reserve chair Jerome Powell for cost overruns related to the central bank's building renovation project, according to a department spokesperson on Friday.
Attorney-general Todd Blanche told Bloomberg News that the lack of 'any oversight' of the central bank's $2.5bn renovation project 'isn't necessarily a crime'. He added that he has not ruled out continuing to look into the project's oversight and potentially taking action if evidence of wrongdoing came to light.
How it is being reported
- DoJ declines to reopen investigation into former Fed chair Jay PowellGuardian World · 2 Oct, 23:32
- US justice department will not reopen criminal probe of Fed’s Jay PowellFinancial Times · 2 Oct, 22:03
In this story: Jerome Powell · Todd Blanche · Federal Reserve · US justice department
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